Consumers are still traveling, despite high inflation, but they're seeking out cheaper trips, Axel Hefer, the CEO of lodging search platform Trivago, tells Axios.
Consumers are still traveling, despite high inflation, but they're seeking out cheaper trips, Axel Hefer, the CEO of lodging search platform Trivago, tells Axios.Instead of booking trips to Spain, global tourists are favoring cheaper destinations like Portugal, Morocco, and Turkey, Hefer noted.
Cost-conscious global travelers are trading down on lodging too — opting for well-rated two- and three-star hotels that offer a four-star experience.Even as inflation has squeezed families' budgets, they haven't been willing to cut out travel altogether. "What we all learned in lockdowns and learned to appreciate is that travel is actually not discretionary spending … but it's really a basic need,” Hefer said.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
2023 Audi e-tron S/e-tron S Sportback: Same EPA Range, Higher Price2023 is not an easy year for enthusiasts of electric, high-performance Audi models, as the cars are getting more expensive, but do not bring range increases.
Read more »
Bitcoin continues to 'mirror' 2017 as weekend sees third attack on $25KBitcoin tapped $25,000 for a third time on Feb. 19, with a 2017 comparison suggesting a 'big move' in the coming week.
Read more »
Roku Blazes Higher on Huge Upgrade: 5 Big Analyst Calls | Pro Recap | Investing.comStocks Analysis by Garrett Cook covering: Apple Inc, Activision Blizzard Inc, Occidental Petroleum Corporation, Marriott International Inc. Read Garrett Cook's latest article on Investing.com
Read more »
Angels’ Patrick Sandoval embraces higher expectationsThe left-hander cut his ERA to 2.91 even though he pitched much of last season without his signature changeup at its best. He wants to keep improving.
Read more »
Asia shares creep higher, wary on Fed and BOJ outlooksTrading was slow ahead of minutes of the last Fed meeting and a reading on core inflation.
Read more »
Buttigieg calls for higher maximum fines for railroad safety breachesButtigieg said the Biden administration would also propose in coming days other railroad safety measures in the wake of the derailment of a Norfolk Southern train in East Palestine, Ohio.
Read more »